By Mark Nestmann • December 16, 2014
The intrepid bureaucrats at the Internal Revenue Service have done a superb job of making us fear them. We dutifully file our 1040s, FBARs, and all manner of other forms, consent to having our wages withheld from our paychecks, and suffer indignities on a daily basis at which our forefathers would have blanched.
By Mark Nestmann • December 9, 2014
Boris Johnson, the mayor of London, just became the unlikely spokesperson for the 8 million or so US citizens living abroad. Boris is an “accidental” US citizen. Although his parents were British, he was born in the US.
By Mark Nestmann • December 2, 2014
I owe a debt of thanks to the late Venezuelan dictator Hugo Chávez. You see, back in 2003, Chávez imposed foreign exchange controls to stem “capital flight” – the movement of capital out of a country in response to economic weakness and political instability, among other reasons.
By Mark Nestmann • November 25, 2014
Expats and foreign investors are among the easiest marks for fraud – one of the dangers of international investing that promoters don’t like to talk about. Fraudulent real estate deals are rife. And while real estate fraud exists everywhere, it’s especially pervasive in Spain...
By Mark Nestmann • November 18, 2014
My recent essay debunking a Puerto Rican tax incentive sparked a heated reaction from one of its most ardent backers. You can read it here. Among other Puerto Rico-related products, this advisory service sells a $695 video course extolling the tax advantages of what it calls the “Island of Enchantment.
By Mark Nestmann • November 11, 2014
Indulge yourself for a moment and imagine you're back in 1986. You’re listening to “Addicted to Love” by Robert Palmer on the radio and on your way to the movie theater to watch Aliens, starring Sigourney Weaver. In Washington, DC, the “War on Drugs” is alive and well, and President Ronald Reagan is championing a new anti-money laundering bill he says will help win it.
By Mark Nestmann • November 4, 2014
FATCA and similar laws have eviscerated financial privacy in the US. And last year, thanks to whistleblower Edward Snowden, the world learned the extent of the surveillance conducted by America’s largest spy agency, the NSA.
By Mark Nestmann • October 28, 2014
Over the last few weeks, I’ve had close to 30 consultations with Nestmann Group clients. And one of their top concerns is that Barack Obama or some future US president will find a way to confiscate the money in their IRAs or 401(k) plans.
By Mark Nestmann • October 21, 2014
Unlike many other advisory services, we take a historical perspective when it comes to supposedly fresh and new ideas. And it’s for that reason that I’ve been skeptical of the tax incentives for individuals that Puerto Rico enacted in 2012 to entice hedge fund managers and other wealthy immigrants into relocating from the mainland US.
By Mark Nestmann • October 14, 2014
In my nearly 30 years of helping Americans “internationalize” themselves, there are four giant obstacles I have watched my clients overcome before finally taking action: Inertia, fear, complacence, and hopelessness.
By Mark Nestmann • October 7, 2014
In the Nestmann family, weddings can be marathon affairs. The latest Nestmann family wedding occurred two weeks ago in Ontario and celebrated the union of my niece with her longtime boyfriend.
By Mark Nestmann • September 30, 2014
Fast food… greasy cheeseburgers, salty fries, and Diet Cokes in Styrofoam cups so large you could wash your feet in them. What could be more American? Well, maybe not so much anymore.
By Mark Nestmann • September 23, 2014
Recently, The Economist reported that Chase Bank closed the accounts of hundreds of porn stars. Among them was blond bombshell Teagan Presley, star of Just Over 18 #10 and more than 70 other porn videos.
By Mark Nestmann • September 16, 2014
It should come as no surprise that the US routinely uses force to get its way in foreign disputes. After all, we have the world’s most powerful military.
By Mark Nestmann • September 2, 2014
What’s the most hazardous financial activity that you can engage in? It’s not investing in penny stocks. It’s not buying foreign currencies. It’s not even playing futures and options, as risky as they may be.
By Mark Nestmann • August 26, 2014
In my consulting practice, I’m often asked about my own “Plan B” – what I plan to do when the s**t hits the fan (SHTF) in the good ol’ US of A. And of course, why I chose that plan.
By Mark Nestmann • August 19, 2014
In the last 50 years, an amazing transformation has taken place. The result? A country rife with contradictions… and opportunity.
By Mark Nestmann • August 12, 2014
I recently spent a week in Hong Kong, the Special Administrative Region of the People’s Republic of China, just off the Mainland’s southeastern coast.
By Mark Nestmann • August 5, 2014
As the world’s premier private banking center, Switzerland holds an estimated one-fourth of the world’s private wealth. And much of the money is there because of Switzerland’s famous secrecy laws.
By Mark Nestmann • July 29, 2014
This week, I’m writing to you from the departure lounge of the Vienna International Airport. I lived in Austria from 2003-2005. I returned not only to renew old friendships, but to see firsthand the latest developments in this small country, which only a century ago dominated much of Europe.
By Mark Nestmann • July 22, 2014
I’m in Panama City, Panama, conducting some boots-on-the-ground research and due diligence on this remarkable country’s legal and financial infrastructure.
By Mark Nestmann • July 15, 2014
Two weeks ago – July 1, to be exact – an obscure law called the “Foreign Account Tax Compliance Act,” or FATCA, came into effect.
By Mark Nestmann • July 8, 2014
For the third time in as many years, legislation has been introduced in Congress that would revoke the passports of US citizens with “seriously delinquent tax debts.”
By Mark Nestmann • July 1, 2014
Around 10 years ago, the US declared war on a select group of Americans – the nearly 8 million US persons (citizens and green card holders) living abroad.
By Mark Nestmann • June 24, 2014
Last July, I spent four days in Las Vegas at FreedomFest. This annual event is huge, with as many as seven presentations occurring at the same time.
By Mark Nestmann • June 17, 2014
If you think June 30, 2014, is just another lazy, hazy summer day, think again. If you’re a US citizen or permanent resident, this may be a date to remember.
By Mark Nestmann • June 10, 2014
Carl Zwerner, an 87-year-old resident of Florida, is the latest poster child for the IRS vendetta against offshore investments.
By Mark Nestmann • June 3, 2014
Just the other week, I witnessed economic imperialism at work. It came courtesy of a secretive US Treasury bureau called the Financial Crimes Enforcement Network (FinCEN).
By Mark Nestmann • May 27, 2014
One of the best parts of my job is doing boots-on-the-ground research, coming up with exciting new ways to help my clients protect their wealth...
By Mark Nestmann • May 20, 2014
If you’re a US citizen and believe you have an unfettered right to leave your country – and come back – think again.